Stock Futures Today: Live Updates

Check out some of the companies making headlines in pre-market trading.

DaVita, Novo Nordisk – Shares of the dialysis provider sank 15% on news of Ozempic’s effectiveness in Novo Nordisk’s kidney disease treatment study. Novo Nordisk shares rose 3.1%.

ExxonMobil, Pioneer Natural Resources – Shares of ExxonMobil fell more than 1% pre-market after the company agreed to buy Pioneer for approximately $60 billion, or $253 per share, in an all-stock merger. Meanwhile, Pioneer stock rose 2.5%. Exxon said that the volume of production in the Permian Basin will double after the completion of the deal.

Humana – Shares fell slightly after Humana’s Bruce Broussard said He will step down as CEO in the second half of 2024.

Read the full list here.

– Brian Evans

ExxonMobil is buying shale driller Pioneer Natural Resources for $253 a share in an all-stock deal worth $59.5 billion that gives the oil giant a dominant presence in the Permian Basin.

The expected deal was confirmed by the companies on Wednesday morning. Pioneer shares added about 1.5% in premarket trading. It rose nearly 10% in the past week as reports indicated a deal was close. Exxon shares fell about 1.3% in early trading.

The merger, the largest on Wall Street this year, is expected to close in the first half of 2024, the companies said.

—John Milloy, Fred Imbert

European stock markets were volatile in early trading, with the Stoxx 600 index moving between losses and gains.

The UK’s FTSE 100 was flat at 9:30 a.m. in London, while Germany’s DAX was down 0.2% and France’s CAC 40 was down 0.96%.

Analysts said that consumer spending in China is not growing as quickly as it was before the epidemic.

Holiday retail sales from September 29th to October 5th increased by 9% A year ago, according to state media reports of Commerce Ministry data. The numbers excluded the last day of the Golden Week holiday.

Analysts cited factors including the impact of the real estate decline – as much of household wealth is in real estate – and a decline in government spending due to domestic debt problems as reasons contributing to the slowdown in consumer spending.

Read the full story here.

– Evelyn Cheng, Shreyashi Sanyal

Confidence fell among major Japanese manufacturers in October, according to the Reuters Tankan Survey, which measures business sentiment among major Japanese companies.

The Reuters poll, which tracks the Bank of Japan’s closely watched quarterly Tankan survey, saw manufacturers’ mood holding steady at +4 index points in October, although it is expected to rise slightly over the next three months.

Services sector sentiment rose, as upbeat domestic demand helped partially offset the hit to the economy from global headwinds.

The services sector index rose to +24 in October, a slight improvement from +23 from the previous month.

– Shreyashi Sanyal

South Korean stocks jumped about 2%, hitting the highest level in two weeks, supported by chip giant Samsung Electronics.

Samsung expects a Operating profits decreased by 78% In the quarter ending September, according to guidance issued by the company. Operating profit expectations were slightly higher than analysts’ expectations. The company’s shares jumped by 3.77%.

The shares of its counterpart, SK Hynix, rose by about 3%.

– Shreyashi Sanyal

German footwear company Birkenstock is expected to price its initial public offering at $46 per share on Tuesday, CNBC reported, citing a person familiar with the matter.

Pricing would put Birkenstock near the midpoint of its price range of $44 to $49 per share, and give it a pro forma valuation of about $8.64 billion.

The company plans to trade on the New York Stock Exchange under the symbol “BIRK.”

– Leslie Baker, Gabrielle Vonrug

Small-cap companies posted a fifth straight advance on Tuesday, with the Russell 2000 rising 1.14%, more than double the 0.52% gain in the Standard & Poor’s 500.

The Russell 2000 is up 2.8% since October 3, while the S&P 500 is up 3.0%.

The small-cap index is 11.5% below its 52-week high reached on February 2, while the S&P 500 is 5.4% below its 52-week high dated July 27. During the first two trading days of this week, small caps rose 1.7%. Compared to a gain for the Standard & Poor’s 500 index of 1.2%.

-Scott Schnepper